Business Daily from THE HINDU group of publications
Tuesday, Dec 04, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Dec 04, 2007 ePaper | Mobile/PDA Version |
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Agri-Biz & Commodities
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Cotton Industry & Economy - Exports & Imports Small spinners: Curb cotton export Coimbatore, Dec.3 South India Small Spinners Association (Sisspa) has asked the Centre not to allow raw cotton export based on assumption on crop size. The export should be permitted only based on the actual stock of cotton available in the country. Sisspa said in a statement that the recent surge in raw cotton prices, declining cotton yarn price, higher bank rate and undeclared power cut in Tamil Nadu had led to the turmoil in the textile industry affecting the working of the mills in Tamil Nadu. Under this adverse environment, the Centre had permitted export of raw cotton based on assumption without taking into account the actual crop position and the stocks held in the country. This had led to unprecedented rise in raw cotton prices and also artificial shortage of the natural fibre, the Sisspa President, Mr R. Kuppusamy, said. He said the Centre should initiate immediate steps to stop export of cotton. Any delay in action would jeopardise the jobs of over three lakh workers employed in the state's textile mills. - Our Bureau More Stories on : Cotton | Exports & Imports | Textiles
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